The renewal comes as a relief to fans. On Monday, the network reportedly gave the cast an ultimatum: Agree to take a 45 percent pay cut by Friday or the animated series will be canceled. The new deal reportedly won't reduce their salaries as much as Fox originally demanded, but it will not include any revenue pay.

Early Friday,Shearer spoke out against Fox, saying he would take a pay cut as large as 70 percent in order to get a share of the sitcom's hefty profits. Shearer said there were "simply no circumstances under which the network would consider allowing me or any of the actors to share in the show's success."